Aggressive Tax Incentives for Attracting Business
Puerto Rico offers a highly attractive incentives package that includes a fixed corporate income tax rate – one of the lowest in comparison with any U.S. jurisdiction – various tax exemptions and special deductions, training expenses reimbursement and special tax treatment for pioneer activities.
Act 73 of May 28, 2008, known as "Economic Incentives for the Development of Puerto Rico Act," makes industry operations in Puerto Rico highly profitable while stimulating additional economic development. Key provisions include:
The Tax Incentives – Act 73 also allows companies to take a tax credit on their corporate income tax return. Tax credits allow for:
Municipal and Property Tax Incentives